Florida vs Hawaii
Property‑Tax Comparison: Florida vs. Hawaii
Intro
Both Florida and Hawaii levy property taxes that fund local services such as schools, public safety, and infrastructure. According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates), the two states differ markedly in effective tax rates, median home values, and median household incomes. The table below places the key metrics side‑by‑side for a direct comparison.
Side‑by‑Side Metrics
| Metric | Florida | Hawaii |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 0.27 % |
| Median home value | $325,000 | $808,200 |
| Median annual property tax | $2,555 | $2,183 |
| Tax on a $250,000 home | $1,966 | $675 |
| Tax on a $500,000 home | $3,931 | $1,351 |
| Median household income | $71,711 | $98,317 |
| Reference link | Florida property tax | Hawaii property tax |
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State Has the Lower Property‑Tax Burden?
Winner: Hawaii (lower effective property‑tax rate).
- Rate difference: 0.79 % – 0.27 % = 0.52 percentage points.
- Relative difference: Hawaii’s rate is about 66 % lower than Florida’s (0.52 % ÷ 0.79 % ≈ 0.6564).
- Annual tax difference on a $250,000 home: $1,966 – $675 = $1,291.
- Annual tax difference on a $500,000 home: $3,931 – $1,351 = $2,580.
Based on the most recent ACS estimates, homeowners would pay a substantially lower property‑tax amount in Hawaii than in Florida for comparable property values.
Who Might Benefit Most from This Comparison?
| Audience | Relevance of Findings |
|---|---|
| Current homeowners | Those evaluating the ongoing cost of owning a home can use the effective tax‑rate data to estimate yearly tax outlays. Hawaii’s lower rate reduces the recurring tax expense, though higher median home values may offset some savings. |
| Prospective homebuyers | Buyers comparing affordability should weigh the lower tax rate in Hawaii against its higher median home price. In Florida, the higher tax rate is partially offset by lower median home values. |
| Retirees and fixed‑income households | Since property taxes are a recurring expense, retirees may favor the lower tax burden in Hawaii. However, the overall cost of housing (median home value) remains a critical factor. |
| Investors | Investors focused on cash‑flow calculations will note that lower tax rates in Hawaii improve net operating income, but acquisition costs are higher. In Florida, higher tax rates increase operating expenses but acquisition costs are generally lower. |
The comparison is purely quantitative; it does not consider other fiscal or lifestyle factors such as state income taxes, climate, or proximity to amenities.
Summary
According to U.S. Census Bureau data, Hawaii’s effective property‑tax rate of 0.27 % is considerably lower than Florida’s 0.79 %, making Hawaii the winner in terms of property‑tax burden. The lower rate translates to annual tax savings of $1,291 on a $250,000 home and $2,580 on a $500,000 home. The decision to reside in or purchase property in either state should incorporate these tax differences alongside median home values, household incomes, and individual financial circumstances.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.